Personal Loan in Bangalore

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Personal loan in Bangalore is offered to salaried individuals. A personal loan is an unsecured form of loan and offered by several banks and NBFCs in the city. Known for IT developments, Bangalore is the IT (Information Technology) hub of India. People also call it as “IT capital of India” and “Silicon of India”. Bangalore is a cosmopolitan city and is the state capital of Karnataka. One can see modern India in Bangalore. The city is well planned and developed which can be experienced while you hangout, dine or shop in the market.

Personal Loan in Bangalore Details Updated on 19th November 2018

Loan Amount

Rs. 1 Lakh to 50 Lakhs

Loan Tenure

1 Year to 5 Years

Interest Rate

10.99% - 16.00%

The climate is usually pleasant due to high elevation of the land. According to research, it is considered to be second fastest growing metropolitan city of the country. Due to establishment of multinationals in the city, many educational institutes have also flourished here which render quality education. The main institutes are: IISc, IIM- Bangalore, NID R&D Campus, NLSIU, NIMHANS, etc.

Our website, Loanbaba.com will provide you all details about Personal loan Bangalore.

About Bangalore Personal Loan

Personal loan is one of the easiest loans as it does not require you to reveal the purpose for availing the loan. The purpose of loan could be any like vacations, children’s educational expenses, renovation of house, wedding, etc. This loan is easily available to general public. All you need to have is a good credit history. The eligibility criterion is very simple. Some of the major providers of Personal loan in Bengaluru are SBI, Axis bank and ICICI Bank etc.

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Loanbaba is your trusted Personal loan provider in Bangalore, which provides huge options of cash loans and other important funding methods. To avail Personal loan in Bangalore, you can rush to any bank branch near to you along with required documents, or apply with loanbaba.com online by comparing multiple bank and NBFC offers. The Personal loan interest rates in Bangalore can be compared on our website.

Benefits of Taking Personal loan

There is no selective purpose for which the loan is disbursed. A person can use funds from Personal loan to meet any financial requirements.

There is a minimal requirement of documentation.

Interest rates of the loan are quite lower than that for credit card loans.

The loan is processed very fast. Generally it takes maximum 48 to 72 hours to get the loan disbursed.

Why Apply for Personal Loan Bangalore on Loanbaba.com?

At Loanbaba, you can compare and apply for Personal loans online. You can check out several Personal loan schemes and go through all their features such as quantum of loan, amount of loan, processing fees, interest rates, and other conditions, at one page. We even offer you Personal Loan EMI calculator free-of-cost, through which you can understand the instalment to be paid every month.

You can also quickly apply for Personal Loan online on our website without having to visit the branch. It is simple and easy, and you can upload all the required documents online. Disbursal is done at the soonest, and you can keep a track of your loan application on the website.

Bangalore Personal Loan Interest Rates

The personal loan interest rate in Bangalore starts at as low as 10.99% and go up to 18% or more depending on the bank/NBFC you choose, your income profile, existing financial liabilities, eligibility factor, credit score, age, etc. On our website, you can compare interest rates offered on the loan across leading financial institutions and get the best offer.

How Do I Get a Personal Loan with the Lowest Interest Rate in Bangalore?

Here are some of the ways you can get lowest interest rate personal loans for yourself.

Maintain a clean record on repayments so that the financial institution readily offers you best interest rate on the loan.

Strive to keep your CIBIL score above 750, which is considered as a good credit score for personal loan.

Do not default on existing loans otherwise it will be difficult to get personal loan approval or lower rates.

Take benefit of seasonal offers by banks and NBFCs, specifically those that offer slashed interest rates.

Know if your employer has tie-up with banks for better rates.

Eligibility criteria for availing Personal loan in Bangalore

Personal loan eligibility may differ from one candidate to another. You can also use free-of-cost Bangalore Personal loan eligibility calculator at Loanbaba.com. The eligibility criteria for Personal loan are discussed below:

The applicant for Personal loan needs to meet the age requirement and possess all necessary identity and income proof required to apply for the loan.

He/she meet the requirement for credit score and should not be under too many debts.

Age: For salaried class it can be between 21 and 60 years, however for self-employed it can be between 25 and 65 years.

Income: Minimum Rs. 15,000 to Rs. 25,000 for salaried class. In case of self-employed, the annual turnover should 15-40 lakh, and minimum PAT should be at least 1 lakh for professionals and 2 lakh for proprietorship concerns.

ROI: 12.99% to 15.50% for salaried class, 12.99 to 20% for self-employed. Interest rate can differ as per the different rates set by the financial institution.

Processing charges of 1.5% to 2.5%.

Prepayment charges can be levied up to 5%, depending upon the bank norms